The
Global market for Spinal Surgery Devices has been estimated to be USD 11.86
billion in 2014 and it is expected to reach USD 15.9 billion by 2020 at a CAGR
of 5% during the forecast period from 2014 to 2021. Back pain is a symptom of
medical condition and the most common cause of back pain is a condition called
intervertebral disc degeneration which means that the disc located between the
vertebrae of the spine are breaking down with age. Another cause of back pain
is wearing down of facet joints which are large joints that connect each
vertebrae to another. Back pain is also caused due to spasms, muscle tension
and ruptured disc. The spinal surgery devices are used to treat the back pain
and other spine related disorders.
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Spine
surgery helps to restore functions of the spine of patient with spine disorders
such as spine deformities, disc herniation, spondylolisthesis, scoliosis,
degenerative discs, trauma, spinal stenosis, and tumors in spine region. The
spine surgical devices are mainly used in hospitals and orthopedic clinics.
An
increasing preference for Minimally Invasive Spinal Surgery, large patient pool
due to a rapidly growing elderly population, growing demand for technologically
advanced products are the factors driving the growth of spine surgical devices
market. However, price concerns, unstable reimbursement policies, lack of
adequate physician and lack of patient awareness/education about newly developed
treatment procedures and technologies are expected to restrain the growth of
the market to a certain extent.
The market for Spinal Surgery Devices is segmented on the basis of technology and products. Technology segment includes Spinal Fusion and fixation, Spinal decompression, Non-Fusion Technologies and Vertebral Compression Fracture Treatment. Spinal decompression segment covers discectomy, laminotomy/laminectomy, foraminotomy/foraminectomy, facetectomy, and corpectomy procedures. Non-Fusion technologies include Dynamic Stabilization and Artificial Disc Replacement. The products segment includes Spinal fusion devices, Spine Bone Stimulators, Spine Biologics and Vertebral Compression Fracture Treatment devices. Spinal Fusion devices sub-segment is again divided into Cervical Fusion, Interbody Fusion, Lumbar Fusion, thoracic fusion devices. Spine Biologics is further categorized into Spinal Allografts,
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Demineralized
Bone Matrix, Bone Morphogenetic Proteins, Bone Substitutes and Machined Bones.
Vertebral Compression Fracture Treatment devices further include Vertebroplasty
and Balloon Kyphoplasty Devices. Spine Bone Stimulators can be Invasive
Electrical Bone Stimulators and Non-invasive Electrical Stimulators.
Based on geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America contributes a larger share of the market, followed by Europe. Asian countries are the faster growing markets, due to the improving reimbursement policies, large population, growing awareness about new technologies and increased acceptance of the latest approaches.
Many
players in this market are trying to expand their product portfolio in order to
top the global market. While few companies are entering into the market by
acquisitions, top companies are expanding their growth in this market by
acquiring other companies. Few companies like Medtronic, PLC adopted product
innovation and new product launches as its key business strategy to ensure its
dominance in this market. Some of the major key players are Alphatec Spine
Inc., DePuy Synthes, Medtronic Inc., Stryker Corporation, NuVasive, Inc., Smith
& Nephew Plc, Globus Medical, Inc.,
Orthovita Inc., Orthofix International
N.V., Zimmer Biomet Holdings, Inc.and others.
Key Deliverables in the Study
Market analysis for the Global Spinal Surgery Devices Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Market analysis for the Global Spinal Surgery Devices Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification
of factors instrumental in changing the market scenarios, rising prospective
opportunities, and identification of key companies that can influence this
market on a global and regional scale
Extensively
researched competitive landscape section with profiles of major companies along
with their market shares
Identification and analysis of the macro and micro factors that affect the Global Spinal Surgery Devices Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Identification and analysis of the macro and micro factors that affect the Global Spinal Surgery Devices Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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